ИНВЕСТИЦИОННАЯ ДЕЯТЕЛЬНОСТЬ АРАБСКОГО ВАЛЮТНОГО ФОНДА И ЕГО ЗНАЧЕНИЕ В РАЗВИТИИ РЕГИОНАЛЬНОГО ФИНАНСОВОГО РЫНКА

Abstract

The Arab Monetary Fund (AMF) is a stabilization fund that is part of the Global Financial Safety Net. The Fund's members are 22 countries of the League of Arab States. The main purpose of the fund is to provide financial assistance to member countries and provide liquidity to cover budget deficits. Such financing, among other things, contributes to the elimination of imbalances between the economies of the region. However, the fund also conducts an active investment activity, which is not a typical direction for stabilization funds. Moreover, through investments, AMF provides almost all of its annual income, while interest income received from loans issued is a small part. Thus, the fund can provide sovereign loans at lower interest rates, since lending is not the main source of income. In addition to its own funds, the fund also accepts deposits from member countries and various financial institutions. Through ongoing monitoring of the regional economy and analytical research, the fund has accumulated significant expertise in technical assistance to governments and institutions in the Arab countries. The AMF distributes about US$13 billion in funds to the regional market. The article presents the main directions for investing financial resources, their amount, as well as indicators of risk management and capital adequacy. Thus, in addition to the main purpose of the stabilization fund, the AMF is a center of competence and an institutional investor in the Arab financial markets. Taking into account the significant aspects of the investment activity of the fund, its influence on the development of the regional financial market is considered.